The Azur Selection Intends to Acquire Latin Beach, a Front-Beach Site on the Athenian Riviera

ATHENS, Greece--(BUSINESS WIRE)--Regulatory News:

The Azur Selection (ISIN : GRS528003007 - Mnémonique : MLAZR), a Greek hotel company listed on the Euronext Access + market in Paris, announces the project of acquisition of Latin Beach.

To approve this acquisition, an Extraordinary General Meeting (“EGM”) of The Azur Selection SA will be held on December 24,2024 with the following agenda:

• Increase of the Company’s share capital without pre-emptive rights by contribution in kind (a) of 51% of the capital of the company under the trade name «LATIN BEACH ATHENS P.C.» by Mr. Georgios Arvanitakis, (b) of 49% of the capital of the company under the trade name «LATIN BEACH ATHENS P.C.» by «XCG INVESTMENT S.M.P.C.». Approval of the valuation report pursuant to article 17 of Law 4548/2018. Amendment of article 5 of the Company’s Articles of Association;
• Grant of a special approval in accordance with articles 99 et seq. of Law 4548/2018 for the contribution in kind to the Company of 51% of the capital of the company under the trade name «LATIN BEACH ATHENS P.C.» by Mr. Georgios Arvanitakis, a related party to the Company, in the context of the share capital increase.

Full details of the EGM, the valuation report of Latin Beach by an external qualified independent valuator and the invitation to attend will be provided prior to the EGM in the investor section of the company's website: https://www.azurselection.com/investor-relations.

Operating since 2022, Latin Beach has successfully completed a full renovation in early 2024, enhancing its offerings to become a premier destination on the stunning Athenian Riviera.

Strategically located in the southern suburbs of Athens, nestled between the luxurious Four Seasons Hotel and the exclusive One&Only Hotel, Latin Beach features a luxurious seaside restaurant with a seating capacity of 220, an expansive events area accommodating up to 1,000 guests, and an exclusive beach facility boasting 400 sunbeds along the coastline.

Latin Beach operates during the summer season from late April to early October, providing a unique blend of leisure and entertainment for all guests.

If the transaction is approved by the EGM, Latin Beach will benefit from Azur Selection's annual support to further enhance its offering and provide an incomparable experience to all who visit.

About The Azur Selection

The Azur Selection is a leading Greek company specializing in the ownership, operation, development, and management of hotel and entertainment facilities. With a portfolio of several successful hotels in Greece, The Azur Selection has become synonymous with excellence in the hospitality industry. Since 2022, the company has been listed on the Access+ market of Euronext Paris under the code GRS528003007 and mnemonic code MLAZR.

https://www.azurselection.com/about-azur